How is your long term stocks doing? Flat right?
My explosive gain for few days streaks come to an end today

Announcement
Subject
:

AWARD OF CONTRACTS

Contents
:

1.0 INTRODUCTION

The Board of Directors of Kencana Petroleum Berhad ("Kencana Petroleum" or "the Company") is pleased to announce that its wholly owned subsidiary, Kencana HL Sdn. Bhd. (“KHL”) has secured contracts from Sarawak Shell Berhad (“SSB”) for the fabrication of compression modules and tie-in modifications (“Contracts”).
2.0 INFORMATION ON THE CONTRACTS

Under the Contracts, KHL is to undertake the fabrication of E8K Compression Module and F13K Compression Module & E-11P-B Tie-in Modifications for SSB’s operated fields off the coast of Sarawak. The total contract value is approximately RM275 million. The Contracts are one-off construction contracts and expected to be delivered within the first quarter of year 2012.
3.0 FINANCIAL EFFECTS

The Contracts are expected to contribute positively to the earnings and net asset per share of Kencana Petroleum Group for the financial year ending 31 July 2011 and 2012.
4.0 RISK FACTORS

Risk factors affecting the Contracts include but are not limited to execution risks such as availability of skilled manpower and materials, changes in prices of materials, and changes in political, economic and regulatory conditions. The Company has throughout the years established its track records and expertise to undertake such projects. As such, the management believes that the Company is able to mitigate the abovementioned risk factors.
5.0 DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST

None of the Directors or major shareholders or persons connected with the Directors or major shareholders of the Company has any direct or indirect interest in the Contracts.
6.0 DIRECTORS' STATEMENT

The Board of Directors of Kencana Petroleum is of the opinion that the acceptance of the Contracts is in the best interest of the Company.

This announcement is dated 15 November 2010

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Added on November 15, 2010, 9:15 pmhttp://www.theedgemalaysia.com/highlights/177135-kencana-petrofac-jv-front-runners-for-us250m-sepat-job.html

Another USD250m

Everyone choose to hide at this moment..............